SEC

The Securities and Exchange Commission (SEC) is an independent agency of the federal government created by the Securities Exchange Act of 1934. It was established in response to the stock market crash of 1929 and the Great Depression to restore public confidence in capital markets. The SEC enforces federal securities laws, regulates stock exchanges, mutual funds, and investment advisors, and prosecutes securities fraud.

The agency is headquartered in Washington, D.C., and operates through five regional offices and multiple divisions including Enforcement, Corporation Finance, and Trading and Markets. The SEC is led by a Chairman and four Commissioners appointed by the President and confirmed by the Senate. It has become a central institution in U.S. financial regulation and corporate governance, with authority over public company disclosures, insider trading, and market manipulation.